Insider Buying: Vera Therapeutics (NASDAQ:VERA) Director Acquires 5,882 Shares of Stock

Vera Therapeutics, Inc. (NASDAQ:VERA) Director Patrick Enright bought 5,882 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average cost of $42.50 per share, for a total transaction of $249,985.00. Following the completion of the purchase, the director owned 5,882 shares of the company’s stock, valued at $249,985. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vera Therapeutics Stock Down 1.2%

Vera Therapeutics stock traded down $0.59 during trading hours on Monday, hitting $49.21. 2,791,379 shares of the stock traded hands, compared to its average volume of 1,757,569. The company has a market cap of $3.15 billion, a PE ratio of -12.33 and a beta of 1.21. The company has a current ratio of 12.21, a quick ratio of 12.21 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $32.42 and its two-hundred day moving average price is $26.67. Vera Therapeutics, Inc. has a one year low of $18.53 and a one year high of $51.19.

Vera Therapeutics (NASDAQ:VERA) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.06). During the same quarter in the prior year, the firm earned ($0.85) EPS. On average, research analysts forecast that Vera Therapeutics, Inc. will post -2.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Bank of America started coverage on Vera Therapeutics in a research note on Thursday, October 16th. They issued a “buy” rating and a $48.00 price objective for the company. Evercore ISI upped their price objective on Vera Therapeutics from $75.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, December 8th. Pivotal Research set a $73.00 price objective on Vera Therapeutics in a research note on Friday, December 5th. TD Cowen increased their target price on shares of Vera Therapeutics from $60.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Vera Therapeutics in a report on Wednesday, November 26th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Vera Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $66.58.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in Vera Therapeutics during the second quarter worth about $51,000. Quarry LP increased its holdings in Vera Therapeutics by 25.0% in the 1st quarter. Quarry LP now owns 2,500 shares of the company’s stock valued at $60,000 after purchasing an additional 500 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Vera Therapeutics by 404.7% in the 1st quarter. AlphaQuest LLC now owns 4,007 shares of the company’s stock valued at $96,000 after buying an additional 3,213 shares during the period. Virtus Investment Advisers LLC boosted its stake in shares of Vera Therapeutics by 14.8% in the second quarter. Virtus Investment Advisers LLC now owns 4,176 shares of the company’s stock valued at $98,000 after purchasing an additional 539 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Vera Therapeutics by 192.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,186 shares of the company’s stock valued at $99,000 after acquiring an additional 2,757 shares in the last quarter. 99.21% of the stock is currently owned by hedge funds and other institutional investors.

About Vera Therapeutics

Vera Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing treatments for patients with serious immunological diseases. Its lead product candidate is atacicept, a fusion protein self-administered as a subcutaneous injection that is in Phase III clinical trial for patients with immunoglobulin A nephropathy; and for treatment of lupus nephritis that is in Phase II clinical trial.